Barclays overdrawn charges?

grumbler

innovate wrote: »

what is a 'guaranteed transaction'?

...unless the payment is a Guaranteed Transaction (which we must honour), the payment will be returned unpaid. A Guaranteed Transaction is one that we cannot refuse – for example a payment made using your debit card where it is not possible to check that there is enough money in your account. When a payment is a Guaranteed Transaction, we will honour the transaction but you will incur a Guaranteed Transaction Fee.

http://www.barclays.co.uk/Helpsupport/Personaloverdraftratesandcharges/P1242557964206

where in the Barclays T&Cs it says they will waive charges if you go into an unauthorised overdraft because of 'guaranteed transactions' ?

I have not found any information about the charges for going into unauthorised overdraft, but they do have charges for these transactions.
If the transaction shouldn't have happened and was processed incorrectly, there should be no charges. However, as I said above, unless it was a basic account with Visa Electron that theoretically cannot be overdrawn, I think that it wasn't the case and the refunded charges were a result of incompetence of the person dealing with the enquiry.

bradztheman

This is what the letters say:

The following transaction(s) have been received today for payment from your account.

As these transactions are guaranteed, we've agreed to pay them even though there were insufficient available cleared funds in your account.

This means we will charge your account with a guaranteed transaction fee of £0.00 for each item.

As there is a total of 1 payment(s), we will charge a total of £0.00 (£0.00 x 1) from your account. We will not charge this fee amount to your account until atleast 14 days after the date of your next statement.

Etc.

:think: